At the close of business, the FTSE100 was up 24.2 points at 5,644.63 with the FTSE250 ahead 78.46 points at 10,008.5 and the FTSE Smallcaps 0.92 points higher at 2,882.56.

NEW YORK

US stocks were higher in late morning trade as investors cheered the Fed suggesting it will keep interest rates at record lows for some time yet.

Approaching the close in London, the Dow Jones Industrial Average was up 45 points at 10,731, the S&P500 rose 7 points at 1,166 and the Nasdaq Composite added 14 points at 2,392.

LONDON MARKETS

Traders in London were perked up by slightly better-than-expected UK unemployment numbers and unsurprised to hear the BoE Monetary Policy Committee decided unanimously to hold UK interest rates this month.

The benign dollar kept metals prices rising this morning, giving the miners a further boost, with Fresnillo the best of them, up 28p at 854p, as silver rose almost 1.5%.

ENRC jumped 11p at 1,177p, Xstrata gained 17.5p at 1,182.5p, Kazakhmys added 36p at 1,532p and Rio Tinto was 65p better at 3,767p.

Oil producers were also in demand as crude topped $82 a barrel on reports that Opec is poised to hold output at present levels. Shell improved 22p at 1,878.5p, helped by an upgrade to buy from hold at Macquarie, BP added 8.3p at 630.7p, raised to buy from add at Oriel, and BG Group improved 1.5p at 1,173p.